Rent to Own Homes in Bridgeport

While Bridgeport is located more than 60 miles away from New York City, many residents travel to the big city by train each day for work. The journey takes more than an hour each way, but residents enjoy the best of both worlds as they secure higher-paying jobs in the big city while enjoying lower real estate prices in the smaller city. The Greater Bridgeport Transit service makes this connection between New York and the coastal Connecticut city possible.

While Bridgeport is located more than 60 miles away from New York City, many residents travel to the big city by train each day for work. The journey takes more than an hour each way, but residents enjoy the best of both worlds as they secure higher-paying jobs in the big city while enjoying lower real estate prices in the smaller city. The Greater Bridgeport Transit service makes this connection between New York and the coastal Connecticut city possible.

While Bridgeport isn’t the most prestigious city in the United States, it does have benefits for residents. The city was once home to P. T. Barnum, and the Barnum Museum continues to entertain visitors today. Families enjoy visits to the Beardsley Zoo and Discovery Museum and Planetarium. Webster Bank Arena keeps sports fans happy while the more cultured enjoy performances at Klein Memorial Auditorium.

The city is also a popular destination for students interested in studying at the University of Bridgeport. The campus is curled up to Seaside Park on the shores of the Long Island Sound, and it feels like a distinct region from the Old Bridgeport City sprawling in other areas.

Buying a Home in Bridgeport

You won’t find as many homes on the market in Bridgeport as you would New York City, and foreclosed homes make up a large percentage of what you will find. For example, there are less than 600 homes on the market at the time of this writing, and more than 200 of them are the results of foreclosure. This is good news if you’re interested in purchasing a low-priced home and fixing it up to reflect your dream house. If you’re searching for a home in move-in condition, you will need to work closely with a local real estate agent to find a home that meets your needs despite the limited selection.

Popular Neighborhoods in Bridgeport

The most popular neighborhood in this city is North Bridgeport. Some of the most expensive properties are located in this area, and residents enjoy access to Lake Forest plus three large parks. Residents also have access to the retail shops on Main Street. Since St. Vincent’s Medical Center is in the area, you’ll find many health service workers living here. The average listing price is over $165,000, making this one of the city’s more expensive communities. The Whiskey Hill neighborhood near the reservoir is another popular neighborhood with similar real estate prices.

Buying vs. Rent to Own Homes

Rent today, and buy tomorrow. This is a special real estate deal that has increased in popularity over the past five years. Rather than renting one property until you can afford to buy another, you rent the same property that you will purchase in the future. The rental period is designed to help you secure financing for the home at a later date. You can save a down payment during that time or work on improving your credit rating so that you qualify for more affordable loan terms. You will eventually move through the traditional home loan process just as you would when buying any other house, but you get to live in your home for a year or longer prior to doing so.

Cost of Living in Bridgeport

At first glance, you may think Bridgeport is just as expensive as any other big city throughout the United States. The overall cost of living is about 10 percent higher than the national average, but there is one thing that makes this city different than many others: housing expenses. The cost of housing is approximately 10 percent lower than the national average. Even more important, it’s as much as 50 percent lower than the Connecticut average. It’s also substantially lower than prices found in New York City.

Summary

Bridgeport is often thought of as a distant suburb of New York City, but it has a distinct character once you start exploring the neighborhoods. The city is positioned on the edge of the Long Island Sound, and the University of Bridgeport is located on that coastline along with a large park. Affordable housing is available throughout the city, and even homes in the more prestigious neighborhoods are affordable to buyers with a reasonable housing budget. If you want to work in NYC while stretching your budget, it’s always possible to commute from your Bridgeport home.

Rent To Own Labs provides a diverse set of real estate listings, including rent to own (“lease to own” or “lease purchase”), owner financing, foreclosed, for sale by owner, and rental home opportunities. These listings are available to low-income residents and those with bad credit or no credit, and include both condos & houses. Rent to own homes near me include the list of zip codes we serve in this area:

06602

06650

06673

06699

06601

06607

06608

06605

06610

06604

06606

Cities Near Bridgeport

Other Cities in Connecticut

About Rent To Own Labs

Our goal is to help you find the ideal rent to own home. To do that, we’ve had to experiment with a lot of crazy things to make that happen (thus our name!). We’re consistently trying new things, working with new partners, and overall, trying to make your search experience as seamless as possible. At the end of the day, we know how important it is to find the perfect home, and we’re excited to help you find it, and to help you through the entire process.